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Apple Posts $111 B Revenue, $29.6 B Profit, Record iPhone Sales

5/2/2026

24 2 Full Breakdown

Summary

Apple Reports Record Revenue

Apple reported Q2 2026 revenue of $111.2 billion, a 17% year-over-year increase.
Net profit rose to $29.58 billion and earnings per share reached $2.01, up 22%.
iPhone sales reached a record $56.994 billion on iPhone 17 demand, prompting Apple to add the iPhone 17e, M4 iPad Air and MacBook Neo.
Apple declared a $0.27 per share dividend payable May 14 2026 and authorized a share-repurchase program of up to $100 billion.

Summary

Apple CEO Resigns

Apple said a global memory shortage driven by AI demand limited iPhone and Mac production.
CEO Tim Cook said the iPhone 17 lineup is Apple’s most popular ever and that he will step down after 15 years as CEO.
Apple’s shares rose about 3% in extended trading as management projected June-quarter revenue to grow 14%–17% year over year, beating analysts’ 9.5% expectation.

Summary

Apple Expands Portfolio

Apple’s new Formula One rights deal begins with the Miami Grand Prix this Sunday.
Apple TV launched “Widow’s Bay” and set “Ted Lasso” Season 4 for August 5.
Apple greenlit a new comedy starring actress Elizabeth Banks, with Liz Heldens and Matt Ward as creators.
Apple will showcase Siri powered by Google’s Gemini AI at WWDC in June.
Apple reported an all-time high installed base of active devices across all categories and regions.

History

Historical Context

Apple unveiled the first iPhone on June 29 2007, selling about 6 million units that year and quickly reaching 1 % of the global phone market. Its success propelled Apple to become the world’s top mobile-revenue vendor by 2011, a position that underpins the $111.2 billion Q2 2026 earnings. A four-year exclusive U.S. deal with AT&T secured its early distribution.

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Apple Reports Record Revenue

Apple reported Q2 2026 revenue of $111.2 billion, a 17% year-over-year increase.
Net profit rose to $29.58 billion and earnings per share reached $2.01, up 22%.
iPhone sales reached a record $56.994 billion on iPhone 17 demand, prompting Apple to add the iPhone 17e, M4 iPad Air and MacBook Neo.
Apple declared a $0.27 per share dividend payable May 14 2026 and authorized a share-repurchase program of up to $100 billion.

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